Value Stocks At 20 Year Discount: Is A Late Cycle Emerging?

Late Cycle? The U.S. Federal Reserve did not hike interest rates in September, so all eyes are turning to December as the next possible timeframe. Meanwhile U.S. equities as a whole continue climbing, although Barclays strategists say value stocks are near their cheapest levels compared to quality stocks in 20 years. In fact, investors are clearly…